Director in Brookfield Business Corp (BBU) records unit-for-share exchange
Rhea-AI Filing Summary
Brookfield Business Corp director Anne Ruth Herkes reported dispositions of securities back to the issuer in connection with a corporate reorganization. On March 27, 2026, 12,581 Class A exchangeable subordinate voting shares and 1,106 non-voting limited partnership units were surrendered to the issuer as part of a court-approved plan of arrangement under the Business Corporations Act (British Columbia). These securities were exchanged on a one-for-one basis for class A subordinated voting shares of Brookfield Business Corp, leaving no remaining holdings of the original units or exchangeable shares reported in this filing.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 1,106 shares
Net Sell
2 txns
Insider
Herkes Anne Ruth
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Exchangeable Subordinate Voting Shares | 12,581 | $0.00 | $0.00 |
| Disposition | Non-Voting Limited Partnership Units | 1,106 | $0.00 | $0.00 |
Holdings After Transaction:
Class A Exchangeable Subordinate Voting Shares — 0 shares (Direct);
Non-Voting Limited Partnership Units — 0 shares (Direct)
Footnotes (2)
- F1. On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement.
- F2. Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.
Key Figures
BBHC exchangeable shares disposed: 12,581 shares
BBU non-voting units disposed: 1,106 units
Post-transaction BBHC exchangeable shares: 0 shares
+1 more
4 metrics
BBHC exchangeable shares disposed
12,581 shares
Class A exchangeable subordinate voting shares surrendered on March 27, 2026
BBU non-voting units disposed
1,106 units
Non-voting limited partnership units surrendered on March 27, 2026
Post-transaction BBHC exchangeable shares
0 shares
Holdings after arrangement-related disposition
Post-transaction BBU non-voting units
0 units
Holdings after arrangement-related disposition
Key Terms
plan of arrangement, non-voting limited partnership units, class A exchangeable subordinate voting shares, class A subordinated voting shares, +1 more
5 terms
plan of arrangement regulatory
"completed a court approved plan of arrangement under section 288"
A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.
non-voting limited partnership units financial
"holders of non-voting limited partnership units of BBU (the "BBU Units")"
Business Corporations Act (British Columbia) regulatory
"plan of arrangement under section 288 of the Business Corporations Act (British Columbia)"
A provincial law that sets the rules for forming, managing and winding up corporations registered in British Columbia, including how directors and shareholders must act, what information companies must disclose, and how disputes are handled. Investors care because it provides a predictable rulebook — like referees and play-by-play rules in a game — that protects shareholder rights, clarifies management duties and disclosure obligations, and therefore affects a company’s legal risk and investment value.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Brookfield Business Corp (BBU) disclose in this Form 4?
The Form 4 reports that director Anne Ruth Herkes disposed of 12,581 Class A exchangeable subordinate voting shares and 1,106 non-voting limited partnership units to the issuer. These movements occurred as part of a broader court-approved corporate reorganization, not an open-market trade.
What happened to the non-voting limited partnership units of BBU in this transaction?
Holders of non-voting limited partnership units of BBU exchanged those units for class A subordinated voting shares of Brookfield Business Corp on a one-for-one basis. Anne Ruth Herkes’ Form 4 shows 1,106 such units disposed to the issuer as part of this exchange process.
What structural change did this plan of arrangement create for Brookfield Business Corp (BBU)?
Under the plan of arrangement, Brookfield Business Partners L.P. and Brookfield Business Holdings Corporation became subsidiaries of Brookfield Business Corp. Securityholders received class A subordinated voting shares of Brookfield Business Corp in exchange for prior units and exchangeable shares on a one-for-one basis.